fraud

Fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law, a criminal law, or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.

TCH: CFPB Data Rule Will Require Stronger Public-Private Collaboration to Safeguard Consumer Interests
TCH: CFPB Data Rule Will Require Stronger Public-Private Collaboration to Safeguard Consumer Interests
February 08, 2024  |  Regulation

Anticipation looms within the financial industry as the Consumer Financial Protection Bureau gears up to implement a rule governing consumer data sharing. The CFPB said...

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Half of FIs Rely Entirely on External Data Encryption Tools to Detect Fraud
Half of FIs Rely Entirely on External Data Encryption Tools to Detect Fraud
February 08, 2024  |  Fraud Prevention

Over 40% of financial institutions (FIs) have reported higher-than-average volumes of fraud and financial crime, according to insights detailed in “FIs Depend on AI/ML Partners...

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Behind Company Walls: Protecting Against the Evolving Insider Fraud Threat
Behind Company Walls: Protecting Against the Evolving Insider Fraud Threat
February 07, 2024  |  Fraud Prevention

One of the biggest fraud threats facing enterprises is also one of the oldest. And it, unlike the rise of artificial intelligence (AI)-driven attacks, comes...

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NYCB Targeted With Class-Action Lawsuit Alleging Securities Fraud
NYCB Targeted With Class-Action Lawsuit Alleging Securities Fraud
February 07, 2024  |  Legal

New York Community Bank (NYCB) is the target of a class-action lawsuit alleging securities fraud. The lawsuit comes after the bank acquired certain assets of...

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‘Cryptofinance’ Might Be Replacing ‘Cryptocurrency,’ but Bitcoin Is Still Unreliable
‘Cryptofinance’ Might Be Replacing ‘Cryptocurrency,’ but Bitcoin Is Still Unreliable
February 07, 2024  |  Cryptocurrency

Compared to the events of 2023, the cryptocurrency sector in 2024 could be considered relatively boring. U.S. regulators at the start of the year approved...

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Entrust Enters Exclusive Discussions to Acquire Onfido
Entrust Enters Exclusive Discussions to Acquire Onfido
February 06, 2024  |  Acquisitions

Entrust has entered into exclusive discussions to acquire Onfido. This potential acquisition would add Onfido’s cloud-based, artificial intelligence (AI)-powered identity verification (IDV) technology to Entrust’s existing portfolio...

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PortX, Hummingbird Partner to Fight Financial Crime
PortX, Hummingbird Partner to Fight Financial Crime
February 06, 2024  |  Partnerships

PortX, an integration technology company for financial institutions (FIs), has teamed with compliance platform Hummingbird. The collaboration is designed to make it easier for FIs to use...

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Cybera and Chainalysis Partner to Help Organizations Prevent Financial Cybercrime
Cybera and Chainalysis Partner to Help Organizations Prevent Financial Cybercrime
February 05, 2024  |  Security & Fraud

Cybera, a provider of advanced reporting and prevention tools, has launched a strategic integration with Chainalysis, a blockchain data platform, to equip government agencies and compliance...

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National Bank of Romania Warns Consumers About Deepfake Videos
National Bank of Romania Warns Consumers About Deepfake Videos
February 05, 2024  |  Security & Fraud

Romania’s central bank governor, Mugur Isarescu, found himself unwittingly associated with false financial recommendations after being targeted by a deepfake video. The video, which utilized...

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